Magnolia Group LLC Purchases New Stake in Martin Marietta Materials, Inc. $MLM

Magnolia Group LLC acquired a new stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,200 shares of the construction company’s stock, valued at approximately $4,414,000. Martin Marietta Materials comprises 1.5% of Magnolia Group LLC’s holdings, making the stock its 12th biggest holding.

Several other hedge funds have also added to or reduced their stakes in MLM. Maryland State Retirement & Pension System raised its position in shares of Martin Marietta Materials by 12.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 3,670 shares of the construction company’s stock worth $1,761,000 after purchasing an additional 405 shares during the last quarter. Jacobi Capital Management LLC bought a new position in Martin Marietta Materials in the 3rd quarter worth about $69,000. Jefferies Financial Group Inc. boosted its stake in Martin Marietta Materials by 133.1% in the 3rd quarter. Jefferies Financial Group Inc. now owns 3,786 shares of the construction company’s stock worth $1,817,000 after purchasing an additional 2,162 shares in the last quarter. First Command Advisory Services Inc. grew its position in Martin Marietta Materials by 26.9% during the 3rd quarter. First Command Advisory Services Inc. now owns 245 shares of the construction company’s stock valued at $118,000 after purchasing an additional 52 shares during the last quarter. Finally, Bahl & Gaynor LLC purchased a new stake in Martin Marietta Materials during the 3rd quarter valued at about $428,000. 95.04% of the stock is owned by institutional investors.

Martin Marietta Materials Stock Down 0.9%

MLM opened at $523.55 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.63 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average price of $503.56 and a 200-day moving average price of $571.62. Martin Marietta Materials, Inc. has a twelve month low of $464.92 and a twelve month high of $710.97. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.91 and a beta of 1.02.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings data on Wednesday, November 4th. The construction company reported $5.47 EPS for the quarter, missing analysts’ consensus estimates of $5.99 by ($0.52). The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Martin Marietta Materials had a net margin of 31.88% and a return on equity of 7.96%. The firm’s revenue was up 28.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.85 EPS. Equities research analysts forecast that Martin Marietta Materials, Inc. will post 15.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. DA Davidson raised shares of Martin Marietta Materials from a “neutral” rating to a “buy” rating and set a $610.00 target price for the company in a report on Friday, October 16th. Zacks Research cut shares of Martin Marietta Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. JPMorgan Chase & Co. reduced their price target on shares of Martin Marietta Materials from $680.00 to $650.00 and set an “overweight” rating for the company in a research report on Tuesday, October 13th. Weiss Ratings cut Martin Marietta Materials from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 3rd. Finally, Citigroup increased their target price on Martin Marietta Materials from $610.00 to $641.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Fifteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $635.85.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc. is a U.S.-based supplier of building materials used in construction and infrastructure projects. Its products include crushed stone, sand and gravel, cement, ready-mixed concrete and asphalt. The company also produces specialty products through its magnesia-based business, including lime, chemicals and products used in industrial and environmental applications. Its construction materials operations serve markets across the United States. Martin Marietta traces its roots to 1939 and has grown through acquisitions and expansion of its materials operations.